2010 Municipal Audit and Accounting Guide

OFFICE OF THE STATE AUDITOR STACEY E. PICKERING AUDITOR July 1, 2010 TO THE GOVERNING AUTHORITIES OF ALL MISSISSIPPI MUNICIPALITIES We are pleased to provide the 2010 Municipal Audit and Accounting Guide. This guide is published by this office in cooperation with the Center for Governmental Technology, Community Development Department, Cooperative Extension Service of Mississippi State University. Mississippi laws charges this office with prescribing various accounting procedures, policies and forms for use by all Mississippi municipalities. Accordingly, the procedures presented in this guide are prescribed and are effective immediately. Special attention has been given to providing municipal officials a guide that is easy to understand and follow. This guide should be reviewed by all appropriate officials and placed on file with the municipal clerk. Sincerly, Auditor POST OFFICE BOX 956 • JACKSON, MISSISSIPPI 39205 • (601) 576-2800 • FAX (601) 576-2687 TABLE OF CONTENTS SECTION I - MUNICIPAL BUDGETING A. INTRODUCTION B. THE BUDGETARY PROCESS C. LEGAL REQUIREMENTS D. PUBLIC BUDGET HEARING E. BUDGET REGULATIONS AND BUDGET AMENDMENT REGULATIONS F. BUDGET FORMS SECTION II - ACCOUNTING SYSTEM A. ACCOUNTING GUIDELINES AND RECORDS ...